Mrs. Singer owns a profitable sole proprietorship. For each of the following cases, use a Schedule SE,
Question:
a. Mrs. Singer's net profit from Schedule C was $51,458. She had no other earned income.
b. Mrs. Singer's net profit from Schedule C was $51,458, and she received a $80,000 salary from an employer.
c. Mrs. Singer's net profit from Schedule C was $51,458, and she received a $127,000 salary from an employer?
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a Mrs Singers 2016 selfemployment tax is 7271 and her income tax deduction is 3635 b Mrs Singers 201...View the full answer
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Related Book For 
Principles Of Taxation For Business And Investment Planning 2018
ISBN: 9781259713729
21st Edition
Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan
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